United Trust Bank (UTB) has announced that it increased new lending to a record £1.5bn in 2021. The specialist bank increased its operating income by 20% to £95.2m, and profit after tax by 42% to £35.4m. These results were delivered during Harley Kagan’s first year as the firm’s chief executive officer, who said UTB had responded to the pandemic with “resilience, tenacity and a positive outlook” to meet the needs of customers, brokers and their colleagues. UTB also confirmed it has a number of new product launches planned for 2022.

Cambridge Building Society has introduced three buy-to-let mortgage products to help UK expats living and working overseas buy rental or holiday let properties in England and Wales. The products are a two-year fixed rate and a two-year discounted mortgage at 3.64%, as well as a five-year fixed rate mortgage at 3.84%. The society confirmed that these products are available to experienced landlords who have a maximum of three mortgaged rental properties and are not deemed portfolio landlords.

Buckinghamshire Building Society has announced pre-tax profits of £1.8m for 2021, a figure almost double that of the previous year. The society also confirmed it recorded net mortgage growth of 12%. Buckinghamshire suggested the results were down to a “productive use of time during the pandemic” to significantly invest in its people and systems. The society’s chairman, Dick Jenkins, said the firm has funding and capital strength to give it the “ammunition” for more growth.

Newcastle Intermediaries has launched a new range of mortgages available exclusively to self-employed applicants with just one year of full accounts. The products are available to self-employed borrowers who have been trading for a maximum of two years, with at least one year of financials available. A two-year fixed rate of 2.55% is available at 80% LTV, with a product fee of £999 payable. Alternatively, a two-year fixed rate of 2.75% is also available at 80% LTV, and comes with free standard valuation up to £500,000.

Newbury Building Society has announced an increase to its procuration fee for brokers introducing its mortgage products to clients. The procuration fee, which has been increased by 0.05%, applies to all new business applications received from 7 March onwards. Newbury’s sales manager, Karen Smith, said the society is expecting to see an increase in mortgage opportunities this year and that this move shows the firm is “acknowledging the importance the broker role plays”.

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